Electrical Power Monitoring System (EPMS) - Market Size, Share, Growth, Analysis, Key Players, Revenue, | Valuates Reports

Electrical Power Monitoring System (EPMS) - Market Size
The global market for Electrical Power Monitoring System (EPMS) was estimated to be worth US$ 4200 million in 2023 and is forecast to a readjusted size of US$ 6122.3 million by 2030 with a CAGR of 5.6% during the forecast period 2024-2030

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Key Trends in the EPMS Market

1. Growing Emphasis on Energy Efficiency & Sustainability
o Governments and industries are prioritizing energy conservation, boosting demand for real-time power monitoring solutions.
o EPMS helps reduce energy waste and optimize power consumption, aligning with global carbon reduction goals.
2. Integration of IoT, AI, and Cloud-Based Solutions
o IoT-enabled EPMS allows remote monitoring and predictive maintenance, enhancing efficiency.
o AI-driven analytics improve fault detection, load forecasting, and system optimization.
3. Adoption of EPMS in Smart Grids & Industrial Automation
o The modernization of electrical grids and expansion of smart cities are increasing demand for EPMS.
o Industries such as manufacturing, data centers, and healthcare rely on EPMS to prevent power disruptions.
4. Rising Demand in Critical Infrastructure & Commercial Buildings
o Hospitals, airports, and commercial buildings implement EPMS for uninterrupted power supply and regulatory compliance.
o Increasing reliance on renewable energy sources necessitates advanced power monitoring systems.
5. Regulatory Compliance & Safety Standards Driving Adoption
o Stricter energy regulations worldwide are encouraging businesses to deploy EPMS for compliance and reporting.
o The need for improved safety and risk management in electrical systems is fueling market growth.
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Challenges in the EPMS Market

1. High Initial Investment & Implementation Costs
o The cost of hardware, software, and integration can be a barrier for small and mid-sized enterprises.
o Upgrading legacy systems to support EPMS requires significant capital expenditure.
2. Cybersecurity Risks in Cloud-Connected EPMS
o As EPMS becomes more digitalized, the risk of cyber threats and data breaches increases.
o Ensuring secure data transmission and system protection is critical for market adoption.
3. Lack of Skilled Professionals for System Management
o Effective utilization of EPMS requires expertise in power management and data analytics.
o Training programs and workforce development initiatives are needed to bridge the skill gap.
4. Interoperability & Standardization Issues
o Compatibility challenges arise due to different protocols and standards used by EPMS vendors.
o Industry-wide standardization efforts are necessary for seamless system integration.
5. Limited Awareness Among Small & Medium Enterprises (SMEs)
o Many SMEs are unaware of the benefits of EPMS and continue to rely on traditional power monitoring methods.
o Market education and incentives could help drive adoption in the SME sector.

Segment by Type:

• Single-circuit EPMS
• Multi-circuit EPMS

Segment by Application

• Industrial
• Residential
• Commercial

By Company

Siemens, Schneider Electric, Eaton, Fluke Corporation, Panasonic, Yokogawa, Emerson, Mitsubishi Power, Fuji Electric, Rockwell Automation, Hitachi, Simco-Ion, Gossen Metrawatt GmbH, Tele Haase, OMICRON Electronics, Aquas, Astrel Group, Acrel, Socomec

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